Tetra Tech Wins $24 Million USAID Carbon Mitigation and Biodiversity Conservation Contract

Rhea-AI Summary

Tetra Tech, Inc. (NASDAQ: TTEK) has been awarded a five-year, $24 million contract by the U.S. Agency for International Development (USAID) to work on climate change initiatives in Cambodia. Through the Morodok Baitang project, the company aims to enhance biodiversity, promote economic development, and strengthen natural resource governance. Tetra Tech has over 40 years of experience in supporting USAID’s environmental initiatives. This contract highlights Tetra Tech's commitment to sustainable solutions and climate resilience.

Positive

• Awarded a $24 million contract by USAID for climate initiatives in Cambodia.
• Focus on biodiversity conservation and economic development.
• Over 40 years of experience with USAID in environmental projects.

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• None.

PASADENA, Calif.--(BUSINESS WIRE)-- Tetra Tech, Inc. (NASDAQ: TTEK), a leading provider of high-end consulting and engineering services, announced today that the U.S. Agency for International Development (USAID) awarded the Company a five-year, $24 million single-award contract to reduce greenhouse gas emissions and promote biodiversity conservation in Cambodia.

Through the USAID Morodok Baitang (or “Green Heritage” in Khmer) activity, Tetra Tech will work with natural resource-dependent communities, the private sector, civil society, and other development partners to mitigate climate change, enhance biodiversity, increase economic development, and strengthen natural resource governance. In addition, Tetra Tech’s climate change and economic growth experts will leverage private sector partnerships with communities to support conservation, promote climate-sensitive development, and enhance economic opportunities for communities whose livelihoods depend on forests.

“Tetra Tech has supported USAID to mitigate climate change impacts and sustainably manage natural resources in developing countries for more than 40 years,” said Dan Batrack, Tetra Tech Chairman and CEO. “We look forward to continuing to apply our Leading with Science^® approach to support climate resilience and biodiversity conservation in Cambodia.”

About Tetra Tech

Tetra Tech is a leading provider of high-end consulting and engineering services for projects worldwide. With 21,000 associates working together, Tetra Tech provides clear solutions to complex problems in water, environment, sustainable infrastructure, renewable energy, and international development. We are Leading with Science^® to provide sustainable and resilient solutions for our clients. For more information about Tetra Tech, please visit tetratech.com or follow us on LinkedIn, Twitter, and Facebook.

Any statements made in this release that are not based on historical fact are forward-looking statements. Any forward-looking statements made in this release represent management’s best judgment as to what may occur in the future. However, Tetra Tech’s actual outcome and results are not guaranteed and are subject to certain risks, uncertainties and assumptions ("Future Factors"), and may differ materially from what is expressed. For a description of Future Factors that could cause actual results to differ materially from such forward-looking statements, see the discussion under the section "Risk Factors" included in the Company’s Form 10-K and Form 10-Q filings with the Securities and Exchange Commission.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211209005258/en/

Jim Wu, Investor Relations

Charlie MacPherson, Media & Public Relations

(626) 470-2844

Source: Tetra Tech, Inc.

FAQ

What is Tetra Tech's recent contract with USAID?

Tetra Tech has received a five-year, $24 million contract from USAID to support climate change projects in Cambodia.

How much is the contract awarded to Tetra Tech by USAID?

The contract awarded to Tetra Tech is worth $24 million.

What are the goals of Tetra Tech's project in Cambodia?

The project aims to reduce greenhouse gas emissions, enhance biodiversity, and promote economic development in Cambodia.

How long is Tetra Tech's contract with USAID?

The contract with USAID is for five years.

What expertise does Tetra Tech bring to the USAID project?

Tetra Tech brings over 40 years of experience in mitigating climate change and managing natural resources.